Bill Title: Amends the Illinois Income Tax Act. Reinstates the research and development credit for tax years ending on or after January 1, 2016, and provides that the credit applies on a permanent basis. Provides that the credit may be carried forward for a period of 20 years (instead of 5 years). Creates an addition modification in an amount equal to the deduction for qualified domestic production activities allowed under Section 199 of the Internal Revenue Code for the taxable year. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the manufacturing and assembling machinery and equipment exemption includes graphic arts machinery and equipment and production related tangible personal property. Provides that the exemption for coal and aggregate exploration, mining, off-highway hauling, processing, maintenance, and reclamation equipment applies on a permanent basis. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB5717 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-02-10	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5717

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5717 currently on file.

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